معهد الامارات للدراسات المصرفية والمالية

EIBFS news

Emirates Institute for Banking and Financial Studies

an eibfs monthly publication february 2017

EIBFS Reports Record Number

of Training Participants in 2016

The Emirates Institute for Banking and Financial Studies

(EIBFS), a regional leader in banking and inance education

and training, has reported record training numbers for the

calendar year 2016.

The Institute delivered a total of 879 vocational training and

educational programmes throughout the year – the highest

number to date. EIBFS welcomed a total of 23,899

participants, registering an increase of 11 per cent

compared to 2015.

In line with the government’s objective to boost the

professional capacities of UAE nationals, EIBFS enrolled

6,342 Emiratis last year. This represents an increase of 9%

over 2015, when 5,796 UAE nationals participated in the

Institute’s programmes.

Speaking on the strong performance, Jamal Al Jassmi,

General Manager of EIBFS, said: “Our record 2016

operational results re lect EIBFS’s steadfast focus in

contributing to the development of the UAE’s growing

banking and inancial services sector. It is heartening to see

the increase in the number of students and professionals

who value the curriculum, programmes and workshops we

have designed to bring out the best in them and help them

advance in their careers. Furthermore, our numbers over

the past few years testify to our success in supporting the

government’s nationalisation efforts through training young

UAE nationals.”

track-record of success for years to come. The continued

constructive suggestions to improve our training programs

from our stakeholders in the inancial sectors, particularly

the head of training and human resources, have been of

critical signi icance in catering to the professional

competencies that the industry needs.”

With more customised courses in response to the demands

of the banking and inance community as well as the job

market, EIBFS plans to deliver over 570 annual training

programmes (ATPs) across 10 categories in 2017. The

categories include Bank Science and Operations, Credit

Management and Project Finance, Banking English,

Treasury and Capital Market, Marketing, Sales and Customer

Service, Human Resources Management and Leadership,

Islamic Banking, E-Banking Applications, Risk Management

and Compliance, and the newly introduced Quality

Management. Each category offers a choice of basic,

intermediate or advanced levels.

As part of its strong focus on nationalisation program, the

institute’s portfolio comprises a variety of courses that

allow talented UAE nationals nominated by their employers

to upskill themselves. Among these, the Leadership

Development Programme, designed in partnership with the

University of Virginia Darden School of Business, received a

high uptake in 2016. Last year, EIBFS also hosted a series of

workshops and seminars for senior-level professionals from

the banking sector.

He added: “In keeping with our status as the leading

educational institute for banking and inance in the region,

we continue to build a learning environment that equips our

students to beat back the competition and succeed in their

chosen ields. We are con ident that our investment in

faculty, technology and research as well as our collaboration

with valued stakeholders will enable us to maintain our

In 2017, the Institute will continue to provide 101 e-

learning programmes and organise networking events

dedicated to various aspects of the inancial sector with the

participation of distinguished international speakers. In

addition, it will develop new customised training courses to

meet the requirements of banks and insurance companies in

the UAE and the wider region.

EIBFS news | 1

Focus Group





8 February 2017

10:00am - 12:00pm


EIBFS organises Focus Group

session for the Insurance sector

The Emirates Institute for Banking and Financial

Studies (EIBFS) organised its irst quarterly focus group

session with HR and training managers of insurance

companies based in the UAE.

The meeting drew the participation of 37 representatives of

leading local and multinational insurance companies and

sought to solicit professional opinions on the institute’s

proposed programmes for the year.

“The session is an opportunity not only to introduce the

programmes that EIBFS plans to conduct in 2017 but also to

understand the speci ic needs of the respective

organisations. The valuable feedback of industry experts

will enable us to implement modi ications to our training

platforms to enhance their quality and relevance,” said

Jamal Al Jassmi, General Manager of EIBFS.

Outlining the institute’s training needs analysis for the

sector, Noura Abbas Ahmed, Director of Training

Department at EIBFS, pointed out that the number of UAE

nationals participating in the programmes had increased

from 172 to 235 over the last four years. Furthermore, the

number of courses targeting the insurance sector witnessed

a signi icant jump from 45 in 2013 to 93 in 2016, and the

total number of participants more than doubled from 876 to

1,795 during the same period.

“This focus group session with key representatives of the

insurance sector is crucial to us at EIBFS. We rely on their

input to address possible gaps in competencies that the

industry faces and revise our curricula systematically to

factor in these needs. Regular interaction with HR and

training managers allows EIBFS to tailor programmes to the

expectations of companies and elevate the standards of

training that the institute offers,” said Ahmed.

Participants presented several constructive suggestions to

improve the institute’s training programmes. Among the

most important ones were developing customised courses

for companies, adding more advanced training modules, and

introducing Arabic business writing, especially in the areas

of documentation and contracts. Filtering the training

programmes in the Annual Training Plan brochure

according to the level and including case studies from the

sector also featured high on the list. In addition, the focus

group discussed the need for a professional certi icate

programme for the insurance sector, such as the globally

accepted Certi icate in Insurance (CII).

“RSA maps out its employees against key functional and

core capabilities. Core capabilities support the individual’s

professional development and career growth, while

functional capabilities enable him/ her to perform

effectively in his/ her current role. The former is mapped

according to RSA’s Expectations – a set of employee

behaviours that de ine our culture and people – and the aim

is to run these through tailor-made courses with EIBFS.

Equally, we focus on providing functional capability

development opportunities for staff by giving them

opportunities to attend a range of EIBFS training courses,”

said Aruma George, HR, Admin and Internal

Communications Director at Royal & Sun Alliance (RSA).

During the session, Ahmed also stressed the importance of

achieving the target of hiring 1,000 UAE nationals in the

banking and inancial services sector within 100 days that

the Ministry of Human Resources and Emiratisation set in

late December 2016. The target is part of the ministry’s

Government Accelerators initiative under the directive of

His Highness Sheikh Mohammed bin Rashid Al Maktoum,

Vice President and Prime Minister of the UAE and Ruler of


She added that EIBFS is continually seeking to assess the

needs of insurance companies with regard to the skills of

new Emirati recruits and aims to provide the necessary

training to empower them with critical leadership


EIBFS news | 3

EIBFS organizes

FinTech 2017

conference on


technologies for

the banking sector

A hybrid word combining inance and technology, FinTech

is one of the most important factors expected to shape the

future of inancial services. It represents the next phase of

the development of inancial services, wherein technology

and technology-focused start-ups and new market entrants

innovate products and services currently provided by the

traditional inancial services industry.

There are primarily two components of FinTech:

technology-driven innovation in the traditional banking

sector and the emergence of new delivery models to

provide inancial services. Given this background, the

conference looks at understanding various aspects of

FinTech that is expected to shape the future of the banking

and inancial sectors in the UAE.








2 March 2017

8:30am - 3:00pm


The conference, an initiative of the EIBFS Research and

Studies Department, organized jointly with and supported

by the EIBFS Training Department, attracted banking

professionals and Fintech specialists from banking and

inancial institutions in the UAE.

The conference agenda included specialized presentations

related to a variety of Fintech and

related technologies such as, emerging digital payments

technologies, arti icial intelligence, cybersecurity,

blockchain and cryptocurrencies.

The conference opened with a presentation on Global

trends in FinTech, by Dr Kelvin Leong, Principal Lecturer

and Professional Lead (Finance), and Anna Sung, Financial

Technology Management Programme Leader, both

presenters from the North Wales Business School, Glyndwr

University, Wales, UK.

Vivek Vaidyanathan, Director, Treasury & Trade Solutions,

Citibank, talked about the ever evolving relationship

between the banking sector and inancial technologies, his

talk titled Banks & FinTech: an evolving relationship.

Peer to Peer (P2P) Lending was the focus of Peter Tavener’s,

Chief Financial Of icer Beehive, extensive presentation and

analysis, followed by Jaques Venter’s, Co-founder and CEO

of Bankroll, talk on the development of Arti icial

Intelligence and its emerging application in inancial


Ensuring cybersecurity in FinTech: Key trends and solutions

was presented and analyzed by Dr Ernesto Damiani,

Director of the Information Security Research Center,

Khalifa University. Finally, Mr Tarun Gugnani Regional Sales

Head, MEA - EdgeVerve (Infosys), concluded the conference

with his presentation on the introduction of Blockchain in


EIBFS news | 4

6 Cybersecurity Predictions

for 2017

2017 will usher in intensi ied cyber attacks, new regulations

and a shift in how businesses approach cyber risk

management, according to Stroz Friedberg, an Aon

company. It predict top threats this year include nation state

cyber espionage, a rise in data integrity attacks and an

increase in attacks harnessing Internet of Things (IoT)

devices. With cybersecurity irmly entrenched as one of the

most consequential issues impacting international security,

politics, economic stability and transactional crime, an

understanding of existing and emerging cyber risks is more

relevant than ever before.

“In 2016, we witnessed everything from cyberattacks

in luencing public opinion to hacked IoT devices and the

introduction of new cybersecurity regulations. This year

we'll see an intensi ication of these threats, along with new

challenges and a blurring of lines between the actions and

responsibilities of the state, markets, businesses and civil

society,” said Ed Stroz, Co-President and Co-Founder of Stroz

Friedberg. “The lood of fake news and nation state-backed

attacks in this past year's election are just a sign of things to

come, as attackers ind new ways to seek faster and wider

access to data and exploit sensitive information.”

Here's a look at the 6 cybersecurity predictions:

1. Criminals harness IoT devices as botnets to attack


In 2017, Stroz Friedberg predicts there will be an increase

in IoT devices compromised, harnessed as botnets and used

as launching points for malware propagation, SPAM, DDoS

attacks and anonymizing malicious activities.

2. Nation state cyber espionage and information war

in luences global and political policy

Cyber espionage will continue to in luence global politics

and will spread to the upcoming elections in Latin America

and Europe. Russia, China, Iran and North Korea will remain

regions of great concern in 2017, as they continue to

develop deep pools of cybercrime talent.

3. Data integrity attacks rise

Data sabotage as the next big threat will become a reality in

2017. Criminals will seek to sow confusion and doubt over

the accuracy and reliability of information, impairing

decision-making across the private and public sector.

perimeter defenses to raise the bar of network security,

criminals will increase their focus on the human element as

an entry point. In 2017, advanced social engineering tactics

will become more targeted, cunning and more effective,

exploiting the weakest link – employees – that organizations

always ind challenging to safeguard.

5. Regulatory pressures make red teaming the global

gold standard with cybersecurity talent development

recognized as a key challenge

Increased pressure from regulators worldwide will push inhouse

red teaming capabilities to accelerate in 2017. In

addition, companies that are not in the cyber business will

face a different challenge – recruiting, motivating and

retaining highly technical cyber talent to keep their red

teams at the forefront of cybersecurity. This push will likely

irst occur in inancial hubs such as Hong Kong, Singapore,

the EU, and even the U.S.

6. Industry irst-movers embrace pre-M&A

cybersecurity due diligence

The inancial services industry and other regulated sectors

will be early-adopters of making cybersecurity due diligence

a critical part of the pre-M&A due diligence process,

learning from high pro ile transactions that were derailed

last year, following the exposure of cyber vulnerabilities.

In 2016, Stroz Friedberg's correctly predicted events such as

cyber threats in luencing the U.S. presidential election and

security incidents with IoT devices shifting dialogue from

functionality to security. Industry is not powerless or

relegated to sit by and wait for government directives to

manage risks. Stroz Friedberg provides recommendations

on how organizations can increase their resilience, shore up

operations and boost defenses in the face of a substantial

cyber threat landscape.


Click on the link cover below to view the Stroz Friedberg's

2017 Cybersecurity Predictions Report:




4. Spear-phishing and social engineering tactics become

craftier, more targeted and more advanced

As organizations continue to leverage evolving technologies,

including the cloud and IoT, and in parallel shore up

EIBFS news | 5



in the UAE

Banking Sector


23 March 2017

8:30am - 3:00pm




| 8




2 February 2017

9 am to 4 pm | 04-4575555

DRESS CODE: Smart and Decent Casuals

EIBFS news | 7

EIBFS signs


of Understanding

(MoU) agreements

with RAK Bank and

National Union Bank

(UNB) for the

development of

national staff

The Emirates Institute of Banking and Financial Studies

(EIBFS) signed a Memorandum of Understanding (MoU)

with the National Bank of Ras Al Khaimah. The signing

ceremony took place on Wednesday 15th February 2017, at

Expo center Sharjah, and was attended Mr. Jamal Al Jassmi

General Manager of EIBFS, and Mr.Sulatn Al Ali –

Emiratization Manager at RAK Bank along with other Senior

Executives from both organizations.

Under the terms of the MoU, EIBFS will be providing

academic support through the EIBFS Bachelor in banking

and Finance to the selected 25 Emirati Employees

nominated by Rak Bank.

This MoU serves as a framework to facilitate collaboration

and cooperation between EIBFS and RAK with the

commitment to provide banking industry speci ic academic

programs duly approved by the Ministry of Higher Education

and Scienti ic Research (MoHESR) to RAK’s UAE National

staff leading to a Bachelor Degree in Banking.

Speaking on the occasion Mr. Jamal Al Jassmi “We are

honored to tie up with RAK Bank on this initiative through

which we will facilitate development of our UAE national

staff by supporting the enhancement of their academic

quali ications in Banking & Finance areas. This initiative also

supports the new Nationalization Strategy formulated by the

Central Bank of UAE.”

Earlier in December 2016, the Union National Bank (UNB)

signed a Memorandum of Understanding (MoU) with the

Emirates Institute of Banking and Financial Studies (EIBFS).

The signing ceremony took place on Tuesday 20th

December 2016,at UNB head of ice, Abu Dhabi, and was

attended by Mr. Mohammad Ali, Deputy CEO from UNB, and

Mr. Jamal Al Jassmi General Manager of EIBFS, along with

other Senior Executives from both organizations.




معهد الامارات

للدراسات المصرفية والمالية

Emirates Institute for


Banking and Financial Studies

eibfs monthly publication

february 2017

EIBFS News is a monthly digital newsletter

published by the EIBFS Research & Studies

Department. Send your contributions/

comments to:


Dubai | Abu Dhabi | Sharjah | 600 566664

EIBFS news | 8

BSc in Banking and Finance

BSc in Banking and Finance:

Accounting Specialization

Diploma in Islamic Banking

Diploma in Banking

Contact Us:

Dubai | Abu Dhabi | Sharjah 600 566664

EIBFS news | 8

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